Kering Accelerates Store Closures as Gucci Turnaround Continues

Kering closed 128 stores against 23 openings in the first nine months and raised its 2026 net-closure target to at least 125; closures are weighing on sales. Creative churn continues, with Balenciaga designer Pierpaolo Piccioli reportedly exiting after less than 16 months and a new direction expected; the test remains whether leadership and network changes improve productivity and profitability.